Corporate Social Responsibility in a Recession
Struggling companies have no choice but to recalibrate their philanthropy
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May 20, 2009, Business Week — In this enlightened day and age, whether times are good or bad, companies must be socially responsible. That's a given. But tough economic conditions underscore a blunt reality. A company's foremost responsibility is to do well. That may sound politically incorrect, but the reason is inexorable. Winning companies create jobs, pay taxes, and strengthen the economy. Winning companies, in other words, enable social responsibility, not the other way around. And so, right now—as always—companies should be putting profitability first. It's the necessity that makes every other necessity possible.
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